Parks Associates forecasts more than 442m connected devices will be sold in US in 2020

More than 442 million connected consumer devices will be sold in the US by 2020, according to new research from Parks Associates.

The market research firm shared its new forecasts for the IoT industry in its 21st-annual CONNECTIONS, an event showcasing various consumer research workshops and panel discussions.

Analysts revealed an upward trend in usage of connected consumer devices and claimed on the basis of data that more than 442 million of these devices such as connected entertainment, mobile, health and smart home devices will be sold in the US in 2020. The fastest growing category will be personal assistant devices that have speakers with voice control such as the Amazon Alexa and Google Home, which is to have a CAGR of 78.3% in 2015-2020. The firm has also in its newly released whitepaper “Impact of Voice on Connected Consumer Markets” shared its findings on the role of voice in the IoT.

Elizabeth Parks, SVP, Parks Associates, said: “Voice control is the top trend for 2017 in the IoT and smart home and a main focus of discussion at CONNECTIONS. Parks Associates research shows U.S. consumers will buy more than 2.3 billion connected devices between 2015 and 2020, and they are showing strong preferences for voice as the interface for their devices.

“Companies in the smart home, entertainment, and connected car ecosystems are pursuing partnerships that can add voice control to a variety of solutions in the connected home,” Parks added.

As this publication reported earlier this month, Navigant Research reported that global market for IoT-enabled intelligent buildings is expected to exceed $22 billion in 2026. As per its research, there is an increased pressure on commercial building owners to invest in intelligent building technologies that leverage the IoT, providing better insight on operations and equipment as well as access to real-time data for productivity, convenience, and sustainability.